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Oct 26 - 09:55 PM

GBP/USD - Firmer With Risk Early, Mid-Range At Present

By Andrew M Spencer  —  Oct 26 - 07:50 PM
  • +0.1% with E-minis up 0.5% on upbeat Amazon outlook, after closing up 0.15%

  • There is no UK data or scheduled BoE events - risk appetite, USD to lead

  • Offshore news, UK retailers suffered the joint-worst October on record: CBI

  • The outlook is subdued, as inflation continues to hit household spending

  • Charts; 5, 10 & 21-day moving averages coil, neutral momentum studies

  • 21-day Bollinger bands slip - mixed signals as range trading dominates

  • Choppy consolidation in the October 1.2038-1.2337 broad range set to extend

  • 1.2070 Thursday low and Wednesday's 1.2175 high initial support, resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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